Verizon CFO: Wireless Dividends To Stay Lean, Preserve Cash

Verizon Communications Inc. Chief Financial Officer Fran Shammo reiterated that cash distributions by Verizon Wireless will likely be "more lean" as the venture pays down debt and prepares for an expected government auction of wireless spectrum next year.

Verizon Wireless, a joint venture of Verizon Communications and Vodafone Group PLC, said late Monday that it will pay out $7 billion to its owners before the end of next month after paying out $18.5 billion last year. Verizon, which owns 55% of the partnership,...